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The proposed acquisition involves the purchase of shares from the existing shareholders of RMIL, which upon completion will result in RMIL becoming a subsidiary of Gravita.
RMIL is one of the most reputed manufacturers of copper & copper alloy products (strips, coils etc.) with nearly 40% exports to UAE, USA, Thailand, Sri Lanka, Kenya, Indonesia, Oman, and Saudi Arabia etc.
RMIL has an integrated manufacturing facility in Sarigram, Gujarat across 58,287 square meters of land with a production capacity of 31,200 MTPA. Further, RMIL is having a turnover of Rs 910 crore and EBITDA of Rs 60 crore for the year ended 31 March 2025.
The purchase consideration for the proposed acquisition of 100% equity stake is approximately Rs 565 crore. The transaction is expected to be completed on or before 31 March 2026, subject to completion of due diligence, execution of definitive documentation, receipt of necessary regulatory and other approvals, and satisfaction of customary closing conditions.
'Signing of this binding term sheet will create an opportunity for expansion of group into the new vertical of Copper, increase the share of non-Lead business, provide further opportunities for backward integration, and create strong operating synergies with our existing plants across procurement, logistics and sales,” the company said in a statement.
Gravita India is a manufacturer of lead, lead alloys & lead products, aluminum alloys & plastic granules, and offers turnkey solutions for the recycling industry and consultancy.
The company's consolidated net profit jumped 25.33% to Rs 97.67 crore on 2.07% increase in revenue from operations to Rs 1,017.07 crore in Q3 FY26 over Q3 FY25.
Gravita India announced the launch of its state-of-the-art lithium-ion battery recycling plant in Mundra, Gujarat with a capacity of 6,000 MTPA.
The company has made an investment of ~Rs. 14 crore for procurement and commissioning of the said Recycling Plant which is invested from internal accruals of the company.
Gravita will ensure the safe, sustainable recycling of lithium-ion batteries, reducing environmental impact, and conserving precious resources. Gravita India has invested in cutting edge technology to improve the efficiency and scalability of the recycling process, ensuring that toxic chemicals and waste are minimized.
This venture is part of Gravita's commitment to promoting a circular economy by reusing valuable materials and reducing the dependency on mining for raw materials.
Gravita's venture into lithium-ion battery recycling is aligned with its ambitious sustainability goals and the global push for cleaner, more efficient energy solutions. As electric vehicles continue to grow in popularity, the company aims to become a key player in the global battery recycling market, supporting a greener, more sustainable planet for future generations.
The company plans to expand the scope of its recycling operations and collaborate with leading players in the EV and renewable energy sectors to further enhance its recycling capabilities.
Profit before tax stood at Rs 115.09 crore in the December 2025 quarter, up 29.15% from Rs 89.11 crore in the same period last year.
Total expenses decreased 2.40% YoY to Rs 913.64 crore during the quarter. The cost of materials consumed stood at Rs 914.62 crore (up 14.79% YoY), employee benefit expenses were Rs 45.92 crore (up 35.53% YoY) and finance costs declined 49.06% YoY to Rs 6.54 crore during the period under review.
EBITDA stood at Rs 116.06 crore in Q3 FY26, up 13.48% YoY, while EBITDA margin rose to 11.41% from 10.26% in Q3 FY25.
On the management commentary and business outlook, the company stated, “Gravita reported a stable performance in Q3 and 9MFY26, with consistent progress across operational and financial metrics across all key segments. In 9MFY26, the company delivered YoY growth of 5%, 9%, 15% and 32% in volumes, revenue, EBITDA and PAT, respectively, while maintaining a healthy ROIC of 25%. Higher contribution from value-added products and increased domestic scrap sourcing reflect efficiency gains from its integrated operating model.
During 9MFY26, Gravita incurred capex of Rs 125 Cr. across its businesses. Aligned with its VISION 2029 strategy, Gravita continues to scale capacities across its established segments— lead, aluminum, plastics, rubber and turnkey solutions—with the ambition of exceeding 7 LTPA by FY28. In parallel, the company is building presence in emerging recycling verticals such as lithium-ion batteries, paper and steel.
Management remains focused on delivering targeted volume growth, earnings expansion and ROIC above 25%, while progressively increasing the contribution of value-added products beyond 50% and non-lead businesses above 30%, anchored by a strong ESG framework. Supported by supply-chain strength, ongoing capacity additions, diversification initiatives, hedging mechanisms and disciplined execution amid a supportive policy environment, Gravita is well positioned to create sustained long-term value.”
Shares of Gravita India declined 2.20% to Rs 1,520 on the BSE.
Gravita Netherlands BV (GNBV), a step-down subsidiary of Gravita India, has decided to further invest in Gravita Europe S.R.L., a subsidiary of GNBV. This investment will involve the acquisition of an additional 3,50,891 shares, representing 15% of Gravita Europe S.R.L.
As a result of this acquisition, Gravita Netherlands B.V.'s shareholding in Gravita Europe S.R.L. will increase from the current 80% to 95%.
Total expenses increased 7.64% YoY to Rs 950.54 crore during the quarter. The cost of materials consumed stood at Rs 938.32 crore (up 8.71% YoY), employee benefit expenses were Rs 39.63 crore (down 14.42% YoY) and finance costs declined 34.56% YoY to Rs 7.82 crore during the period under review.
EBITDA stood at Rs 111.81 crore in Q2 FY26, up 10.17% YoY, while EBITDA margin eased slightly to 10.80% from 10.94% in Q2 FY25.
On the management commentary and business outlook, the company stated, “Gravita has reported a steady performance in H1FY26, showcasing consistent strength across both operational and financial parameters in all major business verticals. Staying true to its VISION 2029 roadmap, Gravita is strategically expanding capacities across its core businesses—lead, aluminium, plastic, rubber, and turnkey solutions—with a target of crossing 7 LTPA by FY28. Simultaneously, it is scaling up new growth avenues such as lithium-ion, paper, and steel recycling.
The company remains committed to achieving over 25% volume CAGR, 35%+ profitability growth, and 25%+ ROIC, while steadily increasing the share of value-added products beyond 50% and non-lead segments above 30%, underpinned by strong ESG principles.
Coming to Q2FY26 performance, Gravita saw YoY growth of 4%, 12%, 10% & 33% in volumes, revenue, EBITDA, and PAT respectively, maintaining a healthy ROIC of 25%. Growth in value-added product contribution and domestic scrap sourcing underscores the company’s integrated model and efficiency gains. Backed by robust supply chain efficiency, capacity augmentation, strategic diversification, and consistent execution under favorable government policies, Gravita is well placed to drive long-term value creation.”